Office of Foreign Assets Control (OFAC)
The Office of Foreign Assets Control (OFAC) is a branch of the United States Department of the Treasury that administers and enforces economic and trade sanctions. It freezes the assets of individuals and entities placed on sanctions lists and prohibits U.S. persons and businesses from engaging in transactions with them. OFAC also implements export embargoes and carries out U.S. sanctions policy toward foreign governments, companies, and individuals.
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Trump announces deal with Putin to lift sanctions on Russian diesel; Ukraine and Europe respond with sharp criticism
On 9 October 2026, US President Donald Trump announced via phone call with Vladimir Putin that Russia would supply millions of tonnes of diesel fuel to US and global markets. The US Treasury's Office of Foreign Assets Control issued a temporary general license (No. 135) authorising Russian diesel imports. The announcement came as Ukrainian, European, and US delegations met in Miami for eight-hour negotiations that ended early once the deal was revealed. Ukrainian President Volodymyr Zelensky called the move "unfair and dishonest" and a "birthday gift to Putin," while EU chief diplomat Kaja Kallas announced EU foreign ministers would approve the largest sanctions package against Russia since the start of the war on 12 October.